Proathlete Wealth Management LLC Invests $77,000 in Regions Financial Corporation (NYSE:RF)

Proathlete Wealth Management LLC acquired a new position in shares of Regions Financial Corporation (NYSE:RF) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 3,548 shares of the bank’s stock, valued at approximately $77,000.

Several other institutional investors and hedge funds have also made changes to their positions in RF. Picton Mahoney Asset Management boosted its position in shares of Regions Financial by 2,354.9% during the 4th quarter. Picton Mahoney Asset Management now owns 1,252 shares of the bank’s stock worth $29,000 after acquiring an additional 1,201 shares in the last quarter. Millstone Evans Group LLC acquired a new position in shares of Regions Financial during the 4th quarter worth about $32,000. Grove Bank & Trust boosted its position in shares of Regions Financial by 76.6% during the 1st quarter. Grove Bank & Trust now owns 1,876 shares of the bank’s stock worth $41,000 after acquiring an additional 814 shares in the last quarter. Allworth Financial LP boosted its position in shares of Regions Financial by 36.4% during the 4th quarter. Allworth Financial LP now owns 2,560 shares of the bank’s stock worth $62,000 after acquiring an additional 683 shares in the last quarter. Finally, TD Waterhouse Canada Inc. boosted its position in shares of Regions Financial by 181.2% during the 4th quarter. TD Waterhouse Canada Inc. now owns 3,225 shares of the bank’s stock worth $76,000 after acquiring an additional 2,078 shares in the last quarter. 79.39% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently issued reports on RF. Keefe, Bruyette & Woods lowered their price objective on Regions Financial from $28.00 to $26.00 and set an “outperform” rating for the company in a research report on Monday, April 21st. Wells Fargo & Company lowered their price objective on Regions Financial from $28.00 to $26.00 and set an “equal weight” rating for the company in a research report on Friday, March 28th. Morgan Stanley decreased their target price on Regions Financial from $29.00 to $22.00 and set an “equal weight” rating for the company in a research report on Monday, April 7th. Truist Financial reissued a “hold” rating on shares of Regions Financial in a research report on Friday, May 23rd. Finally, Barclays decreased their target price on Regions Financial from $26.00 to $24.00 and set an “underweight” rating for the company in a research report on Monday, April 21st. One analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $25.80.

Regions Financial Stock Up 1.9%

RF opened at $21.95 on Friday. The business has a 50 day moving average price of $21.12 and a two-hundred day moving average price of $22.51. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.36. The company has a market cap of $19.73 billion, a PE ratio of 10.55, a P/E/G ratio of 1.75 and a beta of 0.96. Regions Financial Corporation has a 52 week low of $17.74 and a 52 week high of $27.96.

Regions Financial (NYSE:RF) last posted its quarterly earnings data on Thursday, April 17th. The bank reported $0.54 EPS for the quarter, beating the consensus estimate of $0.51 by $0.03. The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.84 billion. Regions Financial had a return on equity of 13.04% and a net margin of 21.43%. During the same period in the prior year, the business earned $0.37 EPS. As a group, research analysts anticipate that Regions Financial Corporation will post 2.26 EPS for the current year.

Regions Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, May 2nd will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.56%. The ex-dividend date of this dividend is Monday, June 2nd. Regions Financial’s dividend payout ratio (DPR) is 48.08%.

Regions Financial Profile

Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers. It operates through three segments: Corporate Bank, Consumer Bank, and Wealth Management. The Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending; equipment lease financing; deposit products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition, and other advisory services.